Financial support for companies operating in the field of HoReCa

 In Fiscal news

GEO 224/2020, amended by GEO 10 from 24.02.2021, regulates the establishment of a state aid scheme for granting financing from national and / or external funds to tourism companies, tourist reception structures with accommodation functions, food structures and tourism agencies , whose activity was affected in the context of the Covid-19 pandemic.

This scheme runs until 31.12.2021 and the payment of the amounts will be made until 30.06.2022. Financial support will not be granted on a first-come, first-served basis, but on proportion, to all companies that will apply for state aid.

The beneficiaries of this scheme are:
– tourist reception structures that carry out activities according to CAEN codes 5510, 5520, 5530, 5590,
– food structures, registered for fiscal purposes on the Romanian territory, which carry out activities according to CAEN codes 5610, 5621, 5629, 5630,
– travel agencies and travel guides, which operate in Romania according to CAEN codes 7911, 7912, 7990.

Those who can receive the state aid, according to this scheme, are the companies established according to:
– Companies law no. 31/1990, republished, with subsequent amendments and completions,
– Law no. 1/2005 regarding the organization and functioning of the cooperation, republished, with the subsequent modifications,
– Government Emergency Ordinance no. 6/2011 for stimulating the establishment and development of micro-enterprises by start-up entrepreneurs in business, approved with amendments by Law no. 301/2011, with subsequent amendments and completions,
– Government Emergency Ordinance no. 44/2008 regarding the development of economic activities by authorized natural persons, individual enterprises and family enterprises, approved with modifications and completions by Law no. 182/2016.

The activities mentioned above are eligible if they are carried out on the basis of tourism licenses, classification certificates, operating authorizations or travel guide certificates valid at the date of accessing the scheme.

The financial aid is granted in the form of grants in the amount of 20% of the calculation base, but not more than 800,000 euros (equivalent in lei) per beneficiary. The basis for calculating the aid is:
– The difference between the turnover related to the year 2019, obtained from the eligible activity and the turnover related to the year 2020 obtained from the eligible activity, for the structures that report the turnover;
– The difference between the volume of the invoices issued for tourism services, including the margin, related to 2019 and the invoices issued for tourism services, including the margin, related to 2020, for the structures that apply the special regime for travel agencies;
– The difference between the receipts obtained in 2019 from the eligible activities and the receipts obtained in 2020 from the eligible activities, for the structures using the single-entry bookkeeping.
The figures used must be gross, before deducting taxes or other charges.

It is required that the calculation base be certified and assumed:
– by an accounting expert or an accounting expertise company, member CECCAR or
– by an authorized financial auditor or authorized audit company, CAFR member.

The applicant to this scheme will choose the accounting expert or the authorized financial auditor for the certification of the calculation basis and will bear the certification cost.

Beneficiaries of financial support must meet the following eligibility conditions:
– not to have benefited from another state aid or if it has benefited, the aid received summed up with the one received under this scheme, not to exceed the equivalent in lei of the amount of 1,800,000 euros;
– not to be insolvent at the time of enrollment in the state aid scheme;
– to have submitted the annual financial statements related to the last two concluded financial years, for which the legal term for submission has been fulfilled.

The beneficiaries of the state aid scheme must maintain the activity for which they obtained financing:

  • for at least 12 months from the date of payment of the amounts,
  • for at least 24 months from the date of payment of the amounts in case the grant awarded is higher than the equivalent in lei of the amount of 200,000 euros.
    The period of suspension or interruption of the commercial activity is not taken into account when determining the term of 12 respectively 24 month.

Although both the provisions of GEO 224/2020 and the amendments made by GEO no. 10/2021 have already entered into force, funding will be available only after its approval by the European Commission.

In the desire to constantly adapt to the needs of our clients and to the reality of the economic market, Especial Audit has included in its portfolio the provision of certification services of the calculation basis which is considered in establishing the financing granted by this aid scheme. We hope to be your first choice in selecting an expert accountant and / or authorized auditor, in accordance with the provisions of GEO 224/2020, amended by GEO 10 of 24.02.2021.

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